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Why I am switching to cTrader
Replied 1 day ago -
cTrader users in the community can also share their experiences with the platform, thank you.
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When is The Best Time To Trade Nasdaq (NAS100) in Nigeria?
Replied 2 days ago -
From 4 PM GMT after the London session has closed, the daily London FIX has been set and the New York session is in full throttle.
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High minimum withdrawal with brokers: how to bypass it
Replied 2 days ago -
The brokers have found out this loop hole so they now check where you are resident. For instance if the broker sees you are resident in Nigeria and you open a ZAR account, they will increase the minimum deposit. A good example is the broker Trade Nation that has been discussed here, their minimum deposit for South African residents is 50 ZAR but if a Nigerian opens a ZAR account they immediately increase the minimum deposit to 500 ZAR
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MT4 vs MT5 who is the winner?
Replied 2 days ago -
MT5 is better because it is an updated version of MT4 and it corrects all the short comings of MT4
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should i use my discretion when trading?
Replied 2 days ago -
Using discretion is taking risk, during my training my trainer strongly advised that i use strategies and stay by it.
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What do you wish you knew before you started forex trading?
Replied 2 days ago -
I wish i actually knew forex trading wasn’t a get rich quick scheme like I experienced in cryptocurrency. I started trading cryptocurrency and made a lot of money in a year, I was trading memes though. Then I graduated into trading forex, i thought i would be withdrawing consistently like I did in trading memes but I was wrong.
For anyone reading, forex trading isn’t a get rich quick scheme, it will take you time to be profitable. The time it will take is totally dependent on the individual.
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| ⚖️Is Forex Trading in South Africa Legal? | Yes |
| ⚖️Forex Trading Regulator | Financial Sector Conduct Authority (FSCA) |
| 📃Type License Issued To Brokers By CMA | Financial Service Provider (FSP) & Over-the-counter Derivative Provider (ODP) |
| ✅No. of FSCA Licensed Forex Brokers in Kenya | 20+ |
Is There Forex Trading in South Africa?
Yes, South Africa has over 500,000 people who trade forex online and it is completely legal.
Forex trading in South Africa is regulated by the Financial Sector Conduct Authority (FSCA) who are a statutory body established by law since 2018.
The FSCA issues Financial Service Provider (FSP) & Over-the-counter Derivative Provider (ODP) to forex brokers who meet their requirements & wish to do business in South Africa.